Mergers & Acquisitions...
Merfeld & Schine, Inc.
Selling Your Company, Step 6:
One of the real difficulties in selling a business is that we need to both get the word out and keep the planned sale confidential. Quite a conundrum! We are committed to protecting your confidentiality and to selling your business. So, we have developed a good method for finding, evaluating, and screening prospects. In summary it involves:
Signed NDAs provide some level of protection. At the very least, it will make someone think twice before sharing or otherwise inappropriately using your information.
- Promoting your business for sale without mentioning its name or providing identifying characteristics like specific location.
- Insisting that ALL prospects sign a non disclosure agreement (NDA) before providing any sensitive or identifying information.
- Carefully screening all inquiries to eliminate tire kickers, spying competitors, and those without adequate financing to make a deal.
We prefer a short and easy to understand NDA. When faced with a long complicated form, and there are a lot of them out there, prospective business buyers will understandably insist that their lawyer look it over. At the least this means delays, and possibly costs to you (buyer’s lawyer wants modifications, so you need to go to your lawyer, etc., etc.). Sometimes a buyer will look at a complicated form and decide it just isn’t worth the legal expense to bother. For most small companies, a one page, easy to understand form should suffice.
Next step: Finding Buyers
Back to Summary of the Selling Process page
We focus on (but do not entirely limit to) companies with sales in the $1MM to $20MM range located in the New England States: MA, CT, NH, RI, VT, ME.
If any of our M&A services fit your needs, please feel free to contact us for a free consultation without obligations or sales pressure. Fill out this simple form or call us (401-751-3320)
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